Noble Mineral Exploration: PROJECT 81 Exploration Update: CGG commences Falcon Gravity Gradiometer Survey
TSX VENTURE: NOB
Toronto, Ontario / TheNewswire / August 27, 2018 - Noble Mineral Exploration Inc. ("Noble" or the "Company") (TSX-V:NOB, FRANKFURT: NB7, OTC.PK:NLPXF) wishes to announce that it has been advised by Gedex that due to technical issues it has had to suspend indefinitely the Airborne Gravity Gradiometer survey over project 81 and consequently will be unable to complete the proposed survey in the near future. In the event it will not be able to carry on and complete the survey as proposed and under terms of the Letter of Intent entered into by Gedex and Noble, Noble has been advised that Gedex will refund "monies previously received as advances on survey work that has not been performed."
As a result of this development, Noble has contracted with CGG Multi-Physics for a Falcon(R) Airborne Gravity Gradiometer and Magnetics survey over certain areas within its large Project 81 area. The Falcon AGG technology is a gravity gradiometer system specifically designed for airborne survey use and provides a number of key advantages over other standard Full Tensor Gradiometer (FTG) systems such as: Lower Noise, Higher Resolution and Sensitivity, Measured Error and Redundancy and the Highest Production Rate.
Noble is pleased to announce that the Private Investor Group (JV Partners) on the Carnegie Township Property has advised Noble that they also have contracted CGG Multi-Physics to carry out a Falcon Gravity Gradiometer and Magnetics survey over Carnegie Township Property located approximately 3 km north of the world-class Kidd Creek mine operated by Glencore.
Noble has also been advised by the JV Partners that a systematic geological and geophysical evaluation of multiple Airborne Geophysical Anomalies from the recently completed airborne EM & Mag survey has commenced and upon completion of the Airborne Gravity Gradiometer Survey additional evaluation of all gravity anomalies will be undertaken in order to confirm diamond drillhole target(s). The JV Partners also plan to systematically drill all confirmed target(s). The JV Partners also plan to undertake locating historical drill-hole collars using a CST/Berger Magna-Trak (MT200) LCD metal locator unit.
Noble Mineral's Project 81 is located within the Kidd-Munro assemblage of the western Abitibi Subprovince in Ontario, and is one of the largest contiguous, underexplored land packages in Ontario. The assemblage is one of the most ultramafic-rich volcanic successions of any age in the world and is hosts to the Kidd Creek VMS deposit, an important example of bimodal-mafic (ultramafic) volcanic-associated massive sulphide (VMS) deposits.
Noble President and CEO, Vance White said "We are disappointed with the performance of Gedex as we hoped to have had the proposed survey completed long before now. However, we recognize that the international reputation of CGG is world-class and look forward to a quick turnaround time in getting the survey completed and the data analysed. It is important to remember here that the world-class Kidd Creek deposit had a signature of a gravity anomaly associated with an EM high and a Mag Low geophysical anomaly. And also, that in many locations around the globe, VMS deposits occur in clusters as satellite VMS deposits to very large VMS deposits such as the Kidd."
Randy S.C. Singh, P.Geo (ON), P.Eng (ON) VP - Exploration & Project Development - a "qualified person" as such term is defined by National Instrument 43-101 has verified the data disclosed in this news release, and has otherwise reviewed and approved the technical information in this news release on behalf of Noble.
About the Falcon AGG System:
CGG's proprietary Falcon(R) Airborne Gravity Gradient (AGG) system uses extremely sensitive accelerometers to produce low-noise, high-resolution gravity data from an airborne platform. Gravity data provides an image of the geology based on density variations in the underlying rocks. CGG globally operates six Falcon systems using both fixed-wing and helicopter platforms; Falcon is the only commercial AGG system specifically designed for airborne applications.
CGG (www.cgg.com) is a fully integrated Geoscience company providing leading geological, geophysical and reservoir capabilities to its broad base of customers primarily from the global oil and gas industry. Through its three complementary businesses of Equipment, Acquisition and Geology, Geophysics & Reservoir (GGR), CGG brings value across all aspects of natural resource exploration and exploitation.
CGG employs around 5,300 people around the world, all with a Passion for Geoscience and working together to deliver the best solutions to its customers.
CGG is listed on the Euronext Paris SA (ISIN: 0013181864) and the New York Stock Exchange (in the form of American Depositary Shares. NYSE: CGG).
CGG Multi-Physics collects, processes, and interprets multi-parameter geophysical data such as gravity, magnetics, electromagnetics and radiometrics. Data is globally collected with both airborne and marine platforms.
About Noble Mineral Exploration Inc.:
Noble Mineral Exploration Inc. is a Canadian based junior exploration company which, apart from its shareholdings in MacDonald Mines Exploration Ltd. and its interest in the Wawa-Holdsworth gold exploration property in Wawa, Ontario, has as its flag ship program Project 81, a contiguous land package of approximately ~70,000 hectares covering 12 townships immediately north of the Kidd Creek Mine (celebrating its 51st year of operation). Project 81 which has seen very limited mineral exploration over the last 50 years and has had a number of historical drill indicated Gold, Copper, Lead-Zinc, Silver and Nickel showings. Noble has confirmed the discovery of a very large, low grade Nickel-Cobalt Deposit in Kingsmill Township in 2012, which is within the project area. The Lucas Gold showing was also drill tested by Noble in 2012 with additional follow up drilling to be carried out during the 2018 winter exploration season. Additional information can be found on our website at www.noblemineralexploration.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
The foregoing information may contain forward-looking statements relating to the future performance of Noble Mineral Exploration Inc. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from the Company's plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by the Company with the TSX Venture Exchange and securities regulators. Noble Mineral Exploration Inc. does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
Noble Mineral Exploration Inc.
H. Vance White, President